Key benefits of keeping Scocre credit health online in good shape!

With the rising social competition, people are leaning more ‘n’ more towards loans and credits in order to maintain their social status. In the race of getting loans and credits more frequently, most of the people don’t pay heed to their Scocre credit health online and how important it is to maintain a good credit health to make your financial life more stable and much easier. Yes, your credit score plays a major role in your overall purchases and financial decisions on any later date.

In fact, there are plenty of reasons to maintain a good credit health. Let’s check out what makes credit score a prominent part of our financial life.

1. Easy loan approvals – When you have a clear credit history of timely payments with no negative remarks, you’re bind to get easy loan approvals. Potential lenders don’t take much time to approve loan and credit applications having a good credit score. It is a clear sign that the applicant has made all the past repayments on time and is highly creditworthy. In fact, lenders offer pre-approved loans to such applicants due to their excellent credit score.
2. Credit card with enhanced rewards – Today, credit cards have become a man’s best friend to bridge all the financial differences. Credit card companies give exciting rewards to its users to enhance their overall banking experience. The experience becomes even better when a cardholder receives premium rewards and bonus points for maintaining excellent credit health.
3. Lower interest on loans and credit cards – When your Scocre credit health online is in good shape, you have got power to negotiate for lower interest rates on loans and credit cards. Interest rate is the cost of borrowing and often, it is directly linked to an applicant’s credit score. If your scores are not in good range, you might have to pay higher interest rates and comparatively higher finance charges on loans and credit card balances. Hence, the better your credit health is, the lower will be the cost of borrowing.
4. Higher credit limits – Your borrowing limit has a direct connection with your income and credit score. Thus, when you have good credit health, you ultimately qualify for a higher credit limits. The potential lenders are impressed by the way you have demonstrated your past repayment record. This become specifically beneficial when you require big-ticket loans like home loan and car loan.
5. Better insurance rates – Though most people often overlook insurance benefits of maintaining good Scocre credit health online, but little did they know that even insurers use credit scores to determine the premium rates and sum assured. A person with bad credit scores might have to pay higher insurance premiums. 

Reasons to check your credit scores at Scocre India

Today, people are getting more ‘n’ more aware in terms of financial management and keep a regular check on their credit scores and credit reports. But, sadly, there are still people who rely upon unauthentic source of information because it comes for free. Though there is nothing wrong about checking credit reports online for free, but at the same time, it is also essential to identify how accurate and reliable the source of information is. Scocre India is a platform that assures you to provide authentic information in terms of your credit report and credit score, while guiding you through the path of being in a good financial health.

There are various reasons to check your credit score online via Scocre India, a reliable platform for every individual.

Rebuilding and maintaining good scores – Having good credit score is as important as having good physical health. However, despite deliberate efforts, people often make certain common mistakes like skipping a loan EMI or carrying heavy balance on credit cards. So, if you have had made the same mistake and now wants to rectify it at the earliest, then Scocre is your go-to option. The platform guides you through filling the gap and rebuilding your credit health and enables you to monitor your credit progress.

Assist you in personal financing – Your credit report is an important part of your personal finances. In fact, it is a mirror reflection of how well you manage your finances. While it is significant to check the credit reports regularly, it is also essential to keep a record of your spending habits. This will help you identify your monthly budget and what amount of surplus remain after all the deductions. This way you can plan your future finances, like whether you can afford to get a car loan or home loan without hampering other expenses.

Rectify the errors – It often happens with most of the people that their credit report shows an outstanding loan balance, which they have already paid off. Usually, people don’t pay heed to such errors and over the time, such errors poorly impact one’s credit score to an extent. Therefore, Scocre India helps you identify any such error, report it to the credit bureaus, and get it rectified as soon as possible, so that it won’t last for longer on the report and negative impact can be reversed. It also helps you identify the credit frauds to prevent any misuse of your confidential information at any given time. You can conveniently report any suspicious activity in your credit account to the credit bureaus before it’s too late.

Hence, get a complete guide to your credit health only at Scocre India. 

Golden tips to keep Scocre credit health in good shape!

Planning to get home your dream car? Great! But have you checked your credit health before walking into a showroom and getting car loan quotes?

You must be wondering why it is important to check credit report before hand. Well, your credit health is simply a reflection of your overall financial standing and a good credit score could help you crack a better car finance deal at negotiable rate of interest and flexi payment options. Practicing good financial habits can help you go longer.

So, if you’re planning to buy your dream car anytime soon, here are some good credit habits to make your financial deals easier and more affordable.

Get your Scocrecredit health report

The very first step of following good financial habits is to keep a regular check on your credit health. At the same time, try avoiding getting the reports from websites or domains claiming to offer free credit reports. Always remember to get the reports from authentic and reliable domain offering genuine and updated credit reports.

Read the report and find inaccuracies

While reading your Scocre credit health report, check out for the factors affecting your overall financial standing and find the errors or inaccuracies on the report, if any. Often individuals don’t pay heed to minor errors and this in return, make a huge dent on their credit score. For instance, Mr. A have paid all outstanding dues in full, still the report is showing a minor outstanding of Rs.500. He didn’t paid much attention to this error and over the time, his financial health was hugely affected as his credit score dipped from 830 to 600. Therefore, it is advised to always pay attention to the errors and inaccuracies and report it to the credit bureau as soon as an error is identified.

Avoid too many borrowings

At this time of inflation, it’s hard to keep your hands off of instant loans and credit facilities. But, for overall credit health, it’s certainly not a good idea to borrow multiple loans and credits all together. This would not only impact your credit health, but will also trigger mental and financial stress as it is not easy to manage multiple loan dues at the same time.

Don’t close unused credit cards

The most common mistake that individuals make is to close inactive or unused credit cards. Closing the unused credit cards lowers the overall credit limit and ultimately impacts the credit utilization ratio. Therefore, financial experts advice to keep the credit cards active to maintain high credit limit and a good credit utilization ratio. Doing so will also keep your Scocre credit health in good shape, making you eligible for affordable financial deals.

To check your car loan eligibility, visit https://scocre.com/.